As it has now become apparent that there will be no more external funds or tax hikes, he continued, the city should consider which investment projects it can cancel or postpone.

The question arises as to whether Budapest can afford to spend more – Ft 9 billion – on the Budapest Transport Centre (BKK) than on anything else, when it has to raise at least a further Ft 10-15 billion for BKV operations.

In response, Budapest deputy mayor István György said the city cannot fund public transport in Budapest alone without realistic additional revenues.

In a statement György wrote that the city’s Ft 150 billion operating budget is not sufficient to guarantee the missing Ft 73 billion for public transport and to also repay the BKV’s Ft 58 billion maturing loan, unless the city abandons all of its other tasks and obligations."

Source: Hungary Around the Clock

This news item is one of many published daily by HATC, a premier subscription news service which distributes English-language info about Hungary via email or fax. For a free trial of HATC follow this link and click on 'Free Trial Subscription'.